Company contributions
From April 2008, all members who pay into the Lifestyle Plan can look forward to higher contributions from the Company.
If you pay contributions at the standard rate (5% of pensionable earnings) the Company’s contributions will increase as follows:
| Age | Now | From April 2008 | Increase |
|---|---|---|---|
| Under 40 | 5% | 8% | 3% |
| 40-44 | 6% | 8% | 2% |
| 45-49 | 7% | 9% | 2% |
| 50-54 | 8% | 10% | 2% |
| 55-59 | 9% | 11% | 2% |
| 60 plus | 10% | 12% | 2% |
If you pay contributions at the half rate (2.5% of pensionable earnings) the Company’s contributions will increase as follows:
| Age | Now | From April 2008 | Increase |
|---|---|---|---|
| Under 40 | 2.5% | 4% | 1.5% |
| 40-44 | 3% | 4% | 1% |
| 45-49 | 3.5% | 4.5% | 1% |
| 50-54 | 4% | 5% | 1% |
| 55-59 | 4.5% | 5.5% | 1% |
| 60 plus | 5% | 6% | 1% |
Those who do not currently pay contributions will not benefit from the improvements. Find out how to start making contributions.
